The Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016

Statutory Instruments

2016 No. 530

Consumer Credit

The Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016

Made

25th April 2016

Laid before Parliament

26th April 2016

Coming into force

17th May 2016

The Treasury, in exercise of the power conferred by section 55(1) of the Consumer Credit Act 1974(1), makes the following Regulations:

Citation and Commencement

1.  These Regulations may be cited as the Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016 and will come into force on 17th May 2016.

Amendment to the Consumer Credit (Disclosure of Information) Regulations 2010

2.  In the Consumer Credit (Disclosure of Information) Regulations 2010(2), in—

(a) the entry in the second column of table 5 in Schedule 1 opposite the entry “If applicable Registration number”, and

(b) the entry in the second column of table 5 in Schedule 3 opposite the entry “If applicable Registration number”,

after “and any other relevant registration number of the creditor.” insert “(For 90 days, starting on the day that a creditor is given an FRN, either the FRN or any Interim Permission Number valid immediately before the start of this 90 day period may be provided.)”.

George Hollingbery

Charlie Elphicke

Two of the Lords Commissioners of Her Majesty’s Treasury

25th April 2016

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations make provision in relation to the regulation of consumer credit under the Consumer Credit Act 1974 (c.39). They amend tables 5 of Schedules 1 and 3 to the Consumer Credit (Disclosure of Information) Regulations 2010 to ensure that a firm which has been given a Firm Reference Number following authorisation by the Financial Conduct Authority may continue to use its “Interim Permission Number” on forms for a period of 90 days, if it wishes to do so.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

(1)

1974. c 39.

(2)

SI 2010/1013, as amended by SI 2014/208. There are other amending instruments, but none are relevant here.